SUMMARY
Bitcoin (BTC) price action during the day was uneventful. Primary count remains as shown below with higher highs towards $8,900 or so.
The below chart shows my first alternate count meaning a bit more correction but not required. Again, this is my alternate count and the higher high destination remains the same.
The below is my Second Alternate count. Forward discernment is key so as not be suprised. The highest probable price pathways allow one to discern alternates and should an alternate become primary, suprise becomes the last emotion. In this situation, one does not as what happened but rather observes and discerns the next price pathway. The volume confirms thus far and so for this reason, I will keep a close eye on the price formation on this Head & Shoulders Top pattern.
This alternate count also has same destination of higher highs, regardless.
Bitcoin Cash (BCH) primary count is up as shown below. The symmetrical triangle is expected to lead to further rise in price. Video analysis has more details!
My alternate count for BCH is that the a,b,c is not complete. Since the wave 5 of the impulse was so extended, the abc could need to be deeper. Still, destination is higher highs.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**